New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-08-16
A DEFAULTER FOR 100000.
FINANCIAL SUFFERERS LEFT BEHIND BY PurLA-

fiNANSlAb SUFFERERS LEFT BEHIND BY A PU1LA-
DELPHiA BREWERY PRESIDENT.
PHILADELPHIA. Ang. 15.-The mystery which has
oeen thrown around the departure from this city Of
Emil Sehoenberg, who has tor time been sup
posed to be partner OF John f. Betz the millionaire
brewer In tome OF his enterprises il idually being
cleared up and the ct tatement Is made that he is "A
forger to large amount He was supposed to have
been associated with Mr. Betz in the construction OF
new opera house in the northwestern part of this
city, and was, as holder of stock to the amount OF
1000, made the president of the Germania Brew
ing Comp any, new corporation.
Mr. Betz asserts that Schoenberg has forged his
name. and he intends to take such measures will
lead to his unwilling return to this city, IL he be
found aud process served Mr. Betz, in relation to
the alleged firm OF Betz & Schoenberg says that is
never existed. He says that when the Germania
Brewery was projected he went into it as a stock
holder and Schoenberg also took 1925, 900 worth of
stock Schoenberg did not have this amount OF ready
cash, and therefore he borrowed the money from
several banks In this city, giving security variety
Of paper which thu thought to be good, but ii
has since been shown that the signatures and ndorse
ments upon some OF the paper we're placed there by
others than tina righttul owners. Mr.. Beizs name
used upon some OF it, both treasurer OF the
Gernania Brewing Company and individual
indorser OF tho notes. The name OF X. Nesor, the
Geneva, " Y maltster, also ap leared upon some OF
the paper without effort consent Ot hts These
forgcries 10 light before Mr.. Schoenberg took
himself out of tie way, and to extricae himself he
transferred portion his brewery stock to Mr..
Beta as collateral to project the fraud uent paper.
This was supposed by Mr.. Betz to be a solution of
the whole difficulty and it has not thought that there
would be any further trouble. Soon alter, however
Mr. SchoenUerg lett the city. Investigation showed
that hcssrs. Nestor and Bctz aud the banks that
madc the first advance not the only victims, tor
forged paper was tUUnu several other banks, and
Yuengling, the brewer of NeE-York, h. F. Poulterer
and David W. Stewart are among tho whose dollars
have gone by thousands INTO Sch0eDberg's golfers.
1t is not known whether the end has been reached
As far as the Investigation has been carried Mr..
Schoenbcrg's Indebtedness has been shonn to DO
about $3O0,0OJ, aud the only assets that can be
found s the $l21 900 OF Germsn,9 Brewing Com
pany stock, PORTION OF W hich was. collateral.
placed with Mr.. Betz who has made a deed OF trust
tOG tho benefit of hs le Ow creditors. The balance
OF tue stock Is in the hands OF two banks, with
small amount of good uapcr
Schoenbrrg il orteh to have been seen i'll Chicago
within few days and when asked to bis III ten
tions said lie was going further West. No wlrraDt
has yet, been issued. but probably will be it
he can be located az all definitely. Mr Betzs Joss
wlI he $4,000 and besides this he is liable for
$4,000 with largo unco npleteG theatre on mis-
hands. toward which Scboenberg supposed to
have contributed largely, but actually nothing Mr..
Ne>tor Is out about 10000, dr Stewart about
SlJ,0J0. Mr.. Pout ror $1,000 an Mr.. Yuenglny
abOat $1,000. The available assets are Schosnbers 5
house nd some negotiable collateral. but the margin
between assets and liabilities will be $4,000.